UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number |
811-22057 |
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Cohen & Steers Global Income Builder, Inc. |
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(Exact name of registrant as specified in charter) |
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280 Park Avenue New York, NY |
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10017 |
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(Address of principal executive offices) |
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(Zip code) |
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Francis C. Poli 280 Park Avenue New York, NY 10017 |
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(Name and address of agent for service) |
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Registrant’s telephone number, including area code: |
(212) 832-3232 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
September 30, 2009 |
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Item 1. Schedule of Investments
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
SCHEDULE OF INVESTMENTS
September 30, 2009 (Unaudited)
|
|
|
Number |
|
Value |
|
|
|
COMMON STOCK 117.0% |
|
|
|
|
|
|
|
AUSTRALIA 3.0% |
|
|
|
|
|
|
|
BANK 0.9% |
|
|
|
|
|
|
|
Australia and New Zealand Banking Group Ltd.(a) |
|
110,361 |
|
$ |
2,374,622 |
|
|
|
|
|
|
|
|
|
|
MATERIAL 0.4% |
|
|
|
|
|
|
|
BHP Billiton Ltd.(a) |
|
35,287 |
|
1,174,542 |
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE—OFFICE 1.7% |
|
|
|
|
|
|
|
Commonwealth Property Office Fund(a) |
|
5,109,265 |
|
4,282,023 |
|
|
|
TOTAL AUSTRALIA |
|
|
|
7,831,187 |
|
|
|
|
|
|
|
|
|
|
|
BRAZIL 0.9% |
|
|
|
|
|
|
|
REAL ESTATE—RETAIL 0.1% |
|
|
|
|
|
|
|
BR Malls Participacoes SA(b) |
|
24,100 |
|
284,314 |
|
|
|
|
|
|
|
|
|
|
|
UTILITIES 0.8% |
|
|
|
|
|
|
|
ELECTRIC UTILITIES 0.6% |
|
|
|
|
|
|
|
CPFL Energia SA |
|
95,000 |
|
1,712,745 |
|
|
|
Eletropaulo Metropolitana SA |
|
6 |
|
123 |
|
|
|
|
|
|
|
1,712,868 |
|
|
|
WATER UTILITIES 0.2% |
|
|
|
|
|
|
|
Cia de Saneamento de Minas Gerais |
|
25,030 |
|
428,516 |
|
|
|
TOTAL UTILITIES |
|
|
|
2,141,384 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL BRAZIL |
|
|
|
2,425,698 |
|
|
|
|
|
|
|
|
|
|
|
CANADA 3.0% |
|
|
|
|
|
|
|
BANK 0.9% |
|
|
|
|
|
|
|
Toronto-Dominion Bank/The |
|
37,200 |
|
2,397,540 |
|
|
|
|
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICE 1.2% |
|
|
|
|
|
|
|
IGM Financial |
|
75,711 |
|
3,002,558 |
|
|
|
|
|
|
|
|
|
|
|
MATERIALS 0.5% |
|
|
|
|
|
|
|
CHEMICALS 0.2% |
|
|
|
|
|
|
|
Potash Corp. of Saskatchewan |
|
6,500 |
|
587,210 |
|
|
|
|
|
|
|
|
|
|
|
METALS & MINING 0.3% |
|
|
|
|
|
|
|
Cameco Corp. |
|
25,000 |
|
693,738 |
|
|
1
|
|
|
Number |
|
Value |
|
|
|
TOTAL MATERIALS |
|
|
|
$ |
1,280,948 |
|
|
|
|
|
|
|
|
|
|
REAL ESTATE MANAGEMENT/ SERVICES 0.4% |
|
|
|
|
|
|
|
Parkbridge Lifestyles Communities(b) |
|
304,567 |
|
1,120,809 |
|
|
|
TOTAL CANADA |
|
|
|
7,801,855 |
|
|
|
|
|
|
|
|
|
|
|
FINLAND 1.5% |
|
|
|
|
|
|
|
REAL ESTATE—DIVERSIFIED 0.8% |
|
|
|
|
|
|
|
Sponda Oyj(b) |
|
533,290 |
|
2,114,855 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.7% |
|
|
|
|
|
|
|
Nokia Oyj(a) |
|
112,600 |
|
1,655,970 |
|
|
|
TOTAL FINLAND |
|
|
|
3,770,825 |
|
|
|
|
|
|
|
|
|
|
|
FRANCE 4.5% |
|
|
|
|
|
|
|
BANK 0.7% |
|
|
|
|
|
|
|
BNP Paribas(a) |
|
21,400 |
|
1,709,835 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY—OIL & GAS 1.8% |
|
|
|
|
|
|
|
Total SA(a) |
|
77,381 |
|
4,597,924 |
|
|
|
|
|
|
|
|
|
|
|
MATERIALS 0.5% |
|
|
|
|
|
|
|
Lafarge SA(a) |
|
14,800 |
|
1,324,360 |
|
|
|
|
|
|
|
|
|
|
|
UTILITIES 1.5% |
|
|
|
|
|
|
|
ELECTRIC UTILITIES 0.8% |
|
|
|
|
|
|
|
Electricite de France(a) |
|
36,744 |
|
2,179,807 |
|
|
|
|
|
|
|
|
|
|
|
MULTI UTILITIES 0.7% |
|
|
|
|
|
|
|
GDF Suez(a) |
|
40,913 |
|
1,816,755 |
|
|
|
TOTAL UTILITIES |
|
|
|
3,996,562 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL FRANCE |
|
|
|
11,628,681 |
|
|
|
|
|
|
|
|
|
|
|
GERMANY 4.7% |
|
|
|
|
|
|
|
INDUSTRIAL 1.1% |
|
|
|
|
|
|
|
Siemens AG(a) |
|
30,000 |
|
2,778,022 |
|
|
|
|
|
|
|
|
|
|
|
INSURANCE 1.0% |
|
|
|
|
|
|
|
Allianz SE(a) |
|
20,200 |
|
2,523,507 |
|
|
|
|
|
|
|
|
|
|
|
SOFTWARE 0.4% |
|
|
|
|
|
|
|
SAP AG |
|
23,000 |
|
1,120,106 |
|
|
2
|
|
|
Number |
|
Value |
|
|
|
UTILITIES 2.2% |
|
|
|
|
|
|
|
ELECTRIC UTILITIES 0.9% |
|
|
|
|
|
|
|
E.ON AG (ADR)(a) |
|
50,647 |
|
$ |
2,155,030 |
|
|
|
|
|
|
|
|
|
|
MULTI UTILITIES 1.3% |
|
|
|
|
|
|
|
RWE AG(a) |
|
36,800 |
|
3,417,938 |
|
|
|
TOTAL UTILITIES |
|
|
|
5,572,968 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL GERMANY |
|
|
|
11,994,603 |
|
|
|
|
|
|
|
|
|
|
|
HONG KONG 4.1% |
|
|
|
|
|
|
|
ENERGY—OIL & GAS 0.6% |
|
|
|
|
|
|
|
CNOOC Ltd.(a) |
|
1,249,000 |
|
1,682,513 |
|
|
|
|
|
|
|
|
|
|
|
FINANCE-INVESTMENT BANKERS/BROKERS 0.4% |
|
|
|
|
|
|
|
Hong Kong Exchanges and Clearing Ltd.(a) |
|
51,500 |
|
933,639 |
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE—DIVERSIFIED 2.3% |
|
|
|
|
|
|
|
Agile Property Holdings Ltd. |
|
1,417,000 |
|
1,667,478 |
|
|
|
Hysan Development Company Ltd.(a) |
|
617,565 |
|
1,553,863 |
|
|
|
Sun Hung Kai Properties Ltd. |
|
186,000 |
|
2,745,583 |
|
|
|
|
|
|
|
5,966,924 |
|
|
|
RETAIL 0.4% |
|
|
|
|
|
|
|
Esprit Holdings Ltd. |
|
167,500 |
|
1,123,864 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES—WIRELESS 0.4% |
|
|
|
|
|
|
|
China Mobile Ltd. |
|
96,500 |
|
940,090 |
|
|
|
TOTAL HONG KONG |
|
|
|
10,647,030 |
|
|
|
|
|
|
|
|
|
|
|
ISRAEL 1.8% |
|
|
|
|
|
|
|
PHARMACEUTICAL |
|
|
|
|
|
|
|
Teva Pharmaceutical Industries Ltd. (ADR) |
|
91,784 |
|
4,640,599 |
|
|
|
|
|
|
|
|
|
|
|
ITALY 3.2% |
|
|
|
|
|
|
|
BANK 0.3% |
|
|
|
|
|
|
|
UniCredito Italiano S.p.A.(a) |
|
176,400 |
|
689,220 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY—OIL & GAS 0.9% |
|
|
|
|
|
|
|
Eni S.p.A.(a) |
|
94,500 |
|
2,361,933 |
|
|
3
|
|
|
Number |
|
Value |
|
|
|
UTILITIES—GAS UTILITIES 2.0% |
|
|
|
|
|
|
|
Snam Rete Gas S.p.A.(a) |
|
1,050,482 |
|
$ |
5,111,262 |
|
|
TOTAL ITALY |
|
|
|
8,162,415 |
|
|
|
|
|
|
|
|
|
|
|
JAPAN 11.1% |
|
|
|
|
|
|
|
APPAREL 1.1% |
|
|
|
|
|
|
|
Fast Retailing Co., Ltd. |
|
20,200 |
|
2,556,364 |
|
|
|
Nisshinbo Industries |
|
17,000 |
|
180,861 |
|
|
|
|
|
|
|
2,737,225 |
|
|
|
AUTOMOTIVE 0.6% |
|
|
|
|
|
|
|
Toyota Motor Corp. |
|
39,200 |
|
1,559,004 |
|
|
|
|
|
|
|
|
|
|
|
BANK 0.1% |
|
|
|
|
|
|
|
Sumitomo Trust and Banking Co., Ltd. |
|
25,000 |
|
132,847 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY—OIL & GAS REFINING & MARKETING 0.1% |
|
|
|
|
|
|
|
Showa Shell Sekiyu KK |
|
21,000 |
|
229,499 |
|
|
|
|
|
|
|
|
|
|
|
FINANCE 0.1% |
|
|
|
|
|
|
|
Daiwa Securities Group |
|
32,000 |
|
165,053 |
|
|
|
|
|
|
|
|
|
|
|
FOOD 0.5% |
|
|
|
|
|
|
|
House Foods Corp. |
|
42,000 |
|
703,236 |
|
|
|
Kikkoman Corp. |
|
46,000 |
|
572,918 |
|
|
|
|
|
|
|
1,276,154 |
|
|
|
HEALTH CARE 0.7% |
|
|
|
|
|
|
|
Astellas Pharma |
|
31,000 |
|
1,274,328 |
|
|
|
Eisai Co., Ltd. |
|
13,000 |
|
489,500 |
|
|
|
|
|
|
|
1,763,828 |
|
|
|
INDUSTRIAL 2.3% |
|
|
|
|
|
|
|
Chiyoda Corp. |
|
46,000 |
|
362,301 |
|
|
|
Fanuc Ltd.(a) |
|
26,500 |
|
2,376,483 |
|
|
|
Secom Co., Ltd.(a) |
|
65,300 |
|
3,288,097 |
|
|
|
|
|
|
|
6,026,881 |
|
|
|
INSURANCE 0.3% |
|
|
|
|
|
|
|
Sompo Japan Insurance |
|
132,000 |
|
888,186 |
|
|
4
|
|
|
Number |
|
Value |
|
|
|
MATERIALS 0.7% |
|
|
|
|
|
|
|
Mitsubishi Materials Corp. |
|
76,000 |
|
$ |
209,971 |
|
|
Shin-Etsu Chemical Co., Ltd. |
|
12,500 |
|
768,674 |
|
|
|
Sumitomo Metal Mining Co., Ltd. |
|
14,000 |
|
229,889 |
|
|
|
Toray Industries |
|
87,000 |
|
527,243 |
|
|
|
|
|
|
|
1,735,777 |
|
|
|
REAL ESTATE—DIVERSIFIED 1.4% |
|
|
|
|
|
|
|
Sumitomo Realty & Development Co., Ltd. |
|
105,000 |
|
1,921,852 |
|
|
|
Tokyo Tatemono Co., Ltd. |
|
373,000 |
|
1,824,174 |
|
|
|
|
|
|
|
3,746,026 |
|
|
|
TECHNOLOGY 3.1% |
|
|
|
|
|
|
|
Canon |
|
59,100 |
|
2,389,940 |
|
|
|
Kyocera Corp. |
|
14,000 |
|
1,299,170 |
|
|
|
NTT Data Corp. |
|
229 |
|
733,698 |
|
|
|
Sony Corp. |
|
66,500 |
|
1,966,886 |
|
|
|
TDK Corp. |
|
17,500 |
|
1,011,809 |
|
|
|
Tokyo Electron Ltd. |
|
8,600 |
|
548,967 |
|
|
|
|
|
|
|
7,950,470 |
|
|
|
TELECOMMUNICATION SERVICES 0.1% |
|
|
|
|
|
|
|
KDDI Corp. |
|
55 |
|
310,032 |
|
|
|
TOTAL JAPAN |
|
|
|
28,520,982 |
|
|
|
|
|
|
|
|
|
|
|
MEXICO 0.8% |
|
|
|
|
|
|
|
RETAIL 0.5% |
|
|
|
|
|
|
|
Wal-Mart de Mexico SA de CV(a) |
|
340,300 |
|
1,179,969 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.3% |
|
|
|
|
|
|
|
America Movil SAB de CV(a) |
|
360,700 |
|
789,708 |
|
|
|
TOTAL MEXICO |
|
|
|
1,969,677 |
|
|
|
|
|
|
|
|
|
|
|
SINGAPORE 1.1% |
|
|
|
|
|
|
|
REAL ESTATE |
|
|
|
|
|
|
|
DIVERSIFIED 0.7% |
|
|
|
|
|
|
|
CapitaLand Ltd. |
|
652,000 |
|
1,721,819 |
|
|
5
|
|
|
Number |
|
Value |
|
|
|
OFFICE 0.4% |
|
|
|
|
|
|
|
CapitaCommercial Trust(a) |
|
1,592,000 |
|
$ |
1,175,366 |
|
|
TOTAL SINGAPORE |
|
|
|
2,897,185 |
|
|
|
|
|
|
|
|
|
|
|
SPAIN 1.9% |
|
|
|
|
|
|
|
BANK 0.9% |
|
|
|
|
|
|
|
Banco Santander Central Hispano SA(a) |
|
149,900 |
|
2,412,916 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 1.0% |
|
|
|
|
|
|
|
Telefonica SA(a) |
|
90,100 |
|
2,485,989 |
|
|
|
TOTAL SPAIN |
|
|
|
4,898,905 |
|
|
|
|
|
|
|
|
|
|
|
SWEDEN 0.9% |
|
|
|
|
|
|
|
RETAIL |
|
|
|
|
|
|
|
Hennes & Mauritz AB(a) |
|
38,679 |
|
2,172,152 |
|
|
|
|
|
|
|
|
|
|
|
SWITZERLAND 2.9% |
|
|
|
|
|
|
|
FOOD 1.5% |
|
|
|
|
|
|
|
Nestle SA(a) |
|
93,120 |
|
3,968,136 |
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE 1.4% |
|
|
|
|
|
|
|
Novartis AG(a) |
|
71,700 |
|
3,587,421 |
|
|
|
TOTAL SWITZERLAND |
|
|
|
7,555,557 |
|
|
|
|
|
|
|
|
|
|
|
UNITED KINGDOM 8.3% |
|
|
|
|
|
|
|
BANK 2.0% |
|
|
|
|
|
|
|
Barclays PLC(a) |
|
387,200 |
|
2,289,575 |
|
|
|
HSBC Holdings PLC(a) |
|
249,566 |
|
2,855,725 |
|
|
|
|
|
|
|
5,145,300 |
|
|
|
CONSUMER DISCRETIONARY 0.9% |
|
|
|
|
|
|
|
Reckitt Benckiser Group PLC(a) |
|
46,500 |
|
2,272,523 |
|
|
|
|
|
|
|
|
|
|
|
CONSUMER—NON-CYCLICAL—AGRICULTURE 0.4% |
|
|
|
|
|
|
|
British American Tobacco PLC(a) |
|
36,300 |
|
1,138,793 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY—INTEGRATED OIL & GAS 0.9% |
|
|
|
|
|
|
|
Royal Dutch Shell PLC |
|
81,624 |
|
2,326,531 |
|
|
6
|
|
|
Number |
|
Value |
|
|
|
HEALTH CARE 1.6% |
|
|
|
|
|
|
|
GlaxoSmithKline PLC(a) |
|
208,100 |
|
$ |
4,089,013 |
|
|
|
|
|
|
|
|
|
|
REAL ESTATE—DIVERSIFIED 0.7% |
|
|
|
|
|
|
|
Land Securities Group PLC |
|
168,254 |
|
1,680,596 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.7% |
|
|
|
|
|
|
|
Vodafone Group PLC(a) |
|
793,000 |
|
1,776,802 |
|
|
|
|
|
|
|
|
|
|
|
UTILITIES 1.1% |
|
|
|
|
|
|
|
ELECTRIC UTILITIES 0.6% |
|
|
|
|
|
|
|
Scottish and Southern Energy PLC(a) |
|
86,833 |
|
1,627,799 |
|
|
|
|
|
|
|
|
|
|
|
MULTI UTILITIES 0.5% |
|
|
|
|
|
|
|
National Grid PLC(a) |
|
125,000 |
|
1,206,604 |
|
|
|
TOTAL UTILITIES |
|
|
|
2,834,403 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL UNITED KINGDOM |
|
|
|
21,263,961 |
|
|
|
|
|
|
|
|
|
|
|
UNITED STATES 63.3% |
|
|
|
|
|
|
|
BASIC MATERIALS 2.2% |
|
|
|
|
|
|
|
Alcoa(a) |
|
49,958 |
|
655,449 |
|
|
|
Allegheny Technologies(c) |
|
33,000 |
|
1,154,670 |
|
|
|
Archer-Daniels-Midland Co.(a),(c) |
|
38,479 |
|
1,124,356 |
|
|
|
Monsanto Co.(a) |
|
27,234 |
|
2,107,912 |
|
|
|
Praxair(c) |
|
7,000 |
|
571,830 |
|
|
|
|
|
|
|
5,614,217 |
|
|
|
CONSUMER—CYCLICAL 3.8% |
|
|
|
|
|
|
|
APPAREL 0.8% |
|
|
|
|
|
|
|
NIKE(a),(c) |
|
32,637 |
|
2,111,614 |
|
|
|
|
|
|
|
|
|
|
|
MEDIA 0.6% |
|
|
|
|
|
|
|
Comcast Corp.(c) |
|
35,000 |
|
591,150 |
|
|
|
The Walt Disney Co.(a),(c) |
|
37,500 |
|
1,029,750 |
|
|
|
|
|
|
|
1,620,900 |
|
|
|
RETAIL 2.1% |
|
|
|
|
|
|
|
Nordstrom(a) |
|
18,340 |
|
560,104 |
|
|
|
Ross Stores(c) |
|
40,800 |
|
1,949,016 |
|
|
7
|
|
|
Number |
|
Value |
|
|
|
Wal-Mart Stores(a),(c) |
|
57,000 |
|
$ |
2,798,130 |
|
|
|
|
|
|
5,307,250 |
|
|
|
TOYS/GAMES/HOBBIES 0.3% |
|
|
|
|
|
|
|
Mattel(a) |
|
40,300 |
|
743,938 |
|
|
|
TOTAL CONSUMER—CYCLICAL |
|
|
|
9,783,702 |
|
|
|
|
|
|
|
|
|
|
|
CONSUMER—NON-CYCLICAL 5.8% |
|
|
|
|
|
|
|
AGRICULTURE 1.0% |
|
|
|
|
|
|
|
Altria Group(a) |
|
51,633 |
|
919,584 |
|
|
|
Philip Morris International(a) |
|
35,633 |
|
1,736,752 |
|
|
|
|
|
|
|
2,656,336 |
|
|
|
BEVERAGE 0.9% |
|
|
|
|
|
|
|
PepsiCo(c) |
|
39,610 |
|
2,323,522 |
|
|
|
|
|
|
|
|
|
|
|
COSMETICS/PERSONAL CARE 1.8% |
|
|
|
|
|
|
|
Colgate-Palmolive Co.(c) |
|
7,600 |
|
579,728 |
|
|
|
Procter & Gamble Co.(a),(c) |
|
70,276 |
|
4,070,386 |
|
|
|
|
|
|
|
4,650,114 |
|
|
|
FOOD 0.7% |
|
|
|
|
|
|
|
Kraft Foods(a),(c) |
|
64,973 |
|
1,706,841 |
|
|
|
|
|
|
|
|
|
|
|
RESTAURANT 1.4% |
|
|
|
|
|
|
|
McDonald’s Corp.(c) |
|
62,539 |
|
3,569,101 |
|
|
|
TOTAL CONSUMER— NON-CYCLICAL |
|
|
|
14,905,914 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY 9.0% |
|
|
|
|
|
|
|
OIL & GAS 5.6% |
|
|
|
|
|
|
|
Chevron Corp.(a),(c) |
|
53,730 |
|
3,784,204 |
|
|
|
Devon Energy Corp.(a) |
|
35,573 |
|
2,395,130 |
|
|
|
Exxon Mobil Corp.(c) |
|
93,847 |
|
6,438,843 |
|
|
8
|
|
|
Number |
|
Value |
|
|
|
Marathon Oil Corp.(a) |
|
53,300 |
|
$ |
1,700,270 |
|
|
|
|
|
|
14,318,447 |
|
|
|
OIL & GAS SERVICES 1.5% |
|
|
|
|
|
|
|
Schlumberger Ltd.(a),(c) |
|
37,998 |
|
2,264,681 |
|
|
|
Transocean Ltd.(b),(c) |
|
17,986 |
|
1,538,342 |
|
|
|
|
|
|
|
3,803,023 |
|
|
|
OIL & GAS STORAGE & TRANSPORTATION 1.9% |
|
|
|
|
|
|
|
Energy Transfer Partners LP(c) |
|
37,188 |
|
1,582,349 |
|
|
|
MarkWest Energy Partners LP |
|
146,393 |
|
3,459,267 |
|
|
|
|
|
|
|
5,041,616 |
|
|
|
TOTAL ENERGY |
|
|
|
23,163,086 |
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL 8.6% |
|
|
|
|
|
|
|
BANK 3.4% |
|
|
|
|
|
|
|
Bank of America Corp.(a) |
|
111,400 |
|
1,884,888 |
|
|
|
Bank of New York Mellon Corp.(a) |
|
38,000 |
|
1,101,620 |
|
|
|
SunTrust Banks(c) |
|
23,951 |
|
540,095 |
|
|
|
US Bancorp(c) |
|
105,972 |
|
2,316,548 |
|
|
|
Wells Fargo & Co.(a),(c) |
|
104,787 |
|
2,952,898 |
|
|
|
|
|
|
|
8,796,049 |
|
|
|
DIVERSIFIED FINANCIAL SERVICE 2.8% |
|
|
|
|
|
|
|
Goldman Sachs Group(c) |
|
13,300 |
|
2,451,855 |
|
|
|
JPMorgan Chase & Co.(a),(c) |
|
92,994 |
|
4,074,997 |
|
|
|
Morgan Stanley(c) |
|
19,500 |
|
602,160 |
|
|
|
|
|
|
|
7,129,012 |
|
|
|
INSURANCE 2.4% |
|
|
|
|
|
|
|
Everest Re Group Ltd.(c) |
|
17,000 |
|
1,490,900 |
|
|
|
HCC Insurance Holdings(a),(c) |
|
108,981 |
|
2,980,630 |
|
|
|
MetLife(a),(c) |
|
44,500 |
|
1,694,115 |
|
|
|
|
|
|
|
6,165,645 |
|
|
|
TOTAL FINANCIAL |
|
|
|
22,090,706 |
|
|
9
|
|
|
Number |
|
Value |
|
|
|
HEALTH CARE 5.1% |
|
|
|
|
|
|
|
Abbott Laboratories(a),(c) |
|
75,063 |
|
$ |
3,713,367 |
|
|
Becton Dickinson & Co.(a),(c) |
|
19,000 |
|
1,325,250 |
|
|
|
Johnson & Johnson(a),(c) |
|
61,436 |
|
3,740,838 |
|
|
|
Medtronic(a),(c) |
|
62,725 |
|
2,308,280 |
|
|
|
Merck & Co.(a) |
|
33,329 |
|
1,054,196 |
|
|
|
Pfizer(a) |
|
53,784 |
|
890,125 |
|
|
|
|
|
|
|
13,032,056 |
|
|
|
INDUSTRIAL 7.3% |
|
|
|
|
|
|
|
AEROSPACE & DEFENSE 4.4% |
|
|
|
|
|
|
|
General Dynamics Corp.(a),(c) |
|
51,419 |
|
3,321,667 |
|
|
|
L-3 Communications Holdings(a),(c) |
|
28,500 |
|
2,289,120 |
|
|
|
Lockheed Martin Corp.(a),(c) |
|
29,000 |
|
2,264,320 |
|
|
|
United Technologies Corp.(a),(c) |
|
55,273 |
|
3,367,784 |
|
|
|
|
|
|
|
11,242,891 |
|
|
|
DIVERSIFIED MANUFACTURING 1.7% |
|
|
|
|
|
|
|
Caterpillar(a),(c) |
|
22,000 |
|
1,129,260 |
|
|
|
General Electric Co.(a) |
|
195,530 |
|
3,210,603 |
|
|
|
|
|
|
|
4,339,863 |
|
|
|
ENVIRONMENTAL CONTROL 0.4% |
|
|
|
|
|
|
|
Waste Management(c) |
|
38,000 |
|
1,133,160 |
|
|
|
|
|
|
|
|
|
|
|
TRANSPORTATION 0.8% |
|
|
|
|
|
|
|
United Parcel Service(a),(c) |
|
39,160 |
|
2,211,365 |
|
|
|
TOTAL INDUSTRIAL |
|
|
|
18,927,279 |
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE 6.0% |
|
|
|
|
|
|
|
HOTEL 1.5% |
|
|
|
|
|
|
|
Host Hotels & Resorts(a) |
|
326,035 |
|
3,837,432 |
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIAL 1.4% |
|
|
|
|
|
|
|
ProLogis(c) |
|
300,056 |
|
3,576,668 |
|
|
|
|
|
|
|
|
|
|
|
OFFICE 1.2% |
|
|
|
|
|
|
|
SL Green Realty Corp.(c) |
|
73,252 |
|
3,212,100 |
|
|
10
|
|
|
Number |
|
Value |
|
|
|
RETAIL 1.3% |
|
|
|
|
|
|
|
Macerich Co.(a) |
|
111,776 |
|
$ |
3,390,166 |
|
|
Simon Property Group(c) |
|
212 |
|
14,719 |
|
|
|
|
|
|
|
3,404,885 |
|
|
|
SELF STORAGE 0.6% |
|
|
|
|
|
|
|
Public Storage(a) |
|
19,097 |
|
1,436,858 |
|
|
|
TOTAL REAL ESTATE |
|
|
|
15,467,943 |
|
|
|
|
|
|
|
|
|
|
|
TECHNOLOGY 10.5% |
|
|
|
|
|
|
|
COMPUTERS 2.7% |
|
|
|
|
|
|
|
Hewlett-Packard Co.(a),(c) |
|
49,574 |
|
2,340,389 |
|
|
|
International Business Machines Corp.(a),(c) |
|
38,433 |
|
4,596,971 |
|
|
|
|
|
|
|
6,937,360 |
|
|
|
INTERNET SERVICE PROVIDER 0.4% |
|
|
|
|
|
|
|
Google(b),(c) |
|
2,300 |
|
1,140,455 |
|
|
|
|
|
|
|
|
|
|
|
SEMICONDUCTORS 2.4% |
|
|
|
|
|
|
|
Intel Corp.(c) |
|
182,501 |
|
3,571,545 |
|
|
|
Microchip Technology(a) |
|
100,248 |
|
2,656,572 |
|
|
|
|
|
|
|
6,228,117 |
|
|
|
SOFTWARE 2.5% |
|
|
|
|
|
|
|
Microsoft Corp.(a),(c) |
|
180,915 |
|
4,683,889 |
|
|
|
Oracle Corp.(a),(c) |
|
79,200 |
|
1,650,528 |
|
|
|
|
|
|
|
6,334,417 |
|
|
|
TELECOMMUNICATION EQUIPMENT 2.5% |
|
|
|
|
|
|
|
Corning(a),(c) |
|
74,700 |
|
1,143,657 |
|
|
|
Harris Corp.(a),(c) |
|
61,700 |
|
2,319,920 |
|
|
|
QUALCOMM(a) |
|
65,000 |
|
2,923,700 |
|
|
|
|
|
|
|
6,387,277 |
|
|
|
TOTAL TECHNOLOGY |
|
|
|
27,027,626 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 1.3% |
|
|
|
|
|
|
|
AT&T(a) |
|
86,277 |
|
2,330,342 |
|
|
11
|
|
|
Number |
|
Value |
|
|
|
Verizon Communications(a),(c) |
|
34,686 |
|
$ |
1,049,945 |
|
|
|
|
|
|
3,380,287 |
|
|
|
UTILITIES 3.7% |
|
|
|
|
|
|
|
ELECTRIC UTILITIES 1.8% |
|
|
|
|
|
|
|
Northeast Utilities(a),(c) |
|
48,500 |
|
1,151,390 |
|
|
|
NV Energy(a),(c) |
|
223,000 |
|
2,584,570 |
|
|
|
Southern Co.(a) |
|
30,885 |
|
978,128 |
|
|
|
|
|
|
|
4,714,088 |
|
|
|
MULTI UTILITIES 1.9% |
|
|
|
|
|
|
|
Public Service Enterprise Group(c) |
|
53,000 |
|
1,666,320 |
|
|
|
Sempra Energy(a),(c) |
|
64,000 |
|
3,187,840 |
|
|
|
|
|
|
|
4,854,160 |
|
|
|
TOTAL UTILITIES |
|
|
|
9,568,248 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL UNITED STATES |
|
|
|
162,961,064 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Identified cost—$332,004,505) |
|
|
|
301,142,376 |
|
|
|
|
|
|
|
|
|
|
|
CLOSED-END FUNDS— UNITED STATES 6.3% |
|
|
|
|
|
|
|
CONVERTIBLE 1.4% |
|
|
|
|
|
|
|
Calamos Convertible and High Income Fund(a),(c) |
|
90,437 |
|
1,040,025 |
|
|
|
Nicholas-Applegate Convertible & Income Fund(a),(c) |
|
161,300 |
|
1,393,632 |
|
|
|
Nicholas-Applegate Convertible & Income Fund II(a) |
|
156,500 |
|
1,250,435 |
|
|
|
|
|
|
|
3,684,092 |
|
|
|
COVERED CALL 1.5% |
|
|
|
|
|
|
|
Eaton Vance Tax-Managed Diversified Equity Income Fund(c) |
|
64,088 |
|
820,967 |
|
|
|
Eaton Vance Tax-Managed Global Diversified Equity Income Fund(a),(c) |
|
80,664 |
|
988,941 |
|
|
|
NFJ Dividend Interest & Premium Strategy Fund(a),(c) |
|
151,200 |
|
2,026,080 |
|
|
|
|
|
|
|
3,835,988 |
|
|
|
GLOBAL EQUITY DIVIDEND 0.8% |
|
|
|
|
|
|
|
Alpine Total Dynamic Dividend Fund(c) |
|
76,500 |
|
686,205 |
|
|
12
|
|
|
Number |
|
Value |
|
|
|
Evergreen Global Dividend Opportunity Fund(c) |
|
136,700 |
|
$ |
1,394,340 |
|
|
|
|
|
|
2,080,545 |
|
|
|
GLOBAL HYBRID (GROWTH & INCOME) 0.5% |
|
|
|
|
|
|
|
Clough Global Opportunities Fund(a),(c) |
|
96,085 |
|
1,218,358 |
|
|
|
|
|
|
|
|
|
|
|
HIGH YIELD 0.3% |
|
|
|
|
|
|
|
BlackRock Corporate High Yield Fund V(c) |
|
85,200 |
|
846,036 |
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE 0.4% |
|
|
|
|
|
|
|
Alpine Global Premier Properties Fund(c) |
|
157,300 |
|
983,125 |
|
|
|
|
|
|
|
|
|
|
|
U.S. GENERAL EQUITY 1.4% |
|
|
|
|
|
|
|
Liberty All-Star Equity Fund(c) |
|
277,800 |
|
1,175,094 |
|
|
|
Nasdaq Premium Income & Growth Fund(c) |
|
79,215 |
|
1,168,421 |
|
|
|
Royce Value Trust(c) |
|
130,388 |
|
1,345,604 |
|
|
|
|
|
|
|
3,689,119 |
|
|
|
TOTAL CLOSED-END FUNDS (Identified cost—$16,589,256) |
|
|
|
16,337,263 |
|
|
|
|
|
|
|
|
|
|
|
PREFERRED SECURITIES—$25 PAR VALUE 2.5% |
|
|
|
|
|
|
|
BERMUDA 0.6% |
|
|
|
|
|
|
|
INSURANCE |
|
|
|
|
|
|
|
PROPERTY CASUALTY 0.3% |
|
|
|
|
|
|
|
Arch Capital Group Ltd., 7.875%, Series B |
|
29,852 |
|
708,985 |
|
|
|
|
|
|
|
|
|
|
|
REINSURANCE 0.3% |
|
|
|
|
|
|
|
Axis Capital Holdings Ltd., 7.50%, Series B ($100 par value) |
|
10,000 |
|
715,938 |
|
|
|
TOTAL BERMUDA |
|
|
|
1,424,923 |
|
|
|
|
|
|
|
|
|
|
|
GERMANY 0.4% |
|
|
|
|
|
|
|
INSURANCE—MULTI-LINE |
|
|
|
|
|
|
|
Allianz SE, 8.375% |
|
41,925 |
|
1,004,523 |
|
|
|
|
|
|
|
|
|
|
|
NETHERLANDS 0.4% |
|
|
|
|
|
|
|
INSURANCE—MULTI-LINE |
|
|
|
|
|
|
|
ING Groep N.V., 7.375% |
|
65,141 |
|
1,081,341 |
|
|
|
|
|
|
|
|
|
|
|
SPAIN 0.2% |
|
|
|
|
|
|
|
BANK |
|
|
|
|
|
|
|
Santander Finance Preferred, 10.50%, Series 10 |
|
20,088 |
|
543,983 |
|
|
13
|
|
|
Number |
|
Value |
|
|
|
UNITED STATES 0.9% |
|
|
|
|
|
|
|
REAL ESTATE—RESIDENTIAL 0.5% |
|
|
|
|
|
|
|
Apartment Investment & Management Co., 7.75%, Series U |
|
57,000 |
|
$ |
1,179,900 |
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.4% |
|
|
|
|
|
|
|
Telephone & Data Systems, 7.60%, due 12/1/41, Series A |
|
49,823 |
|
1,145,929 |
|
|
|
TOTAL UNITED STATES |
|
|
|
2,869,812 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL PREFERRED
SECURITIES—$25 PAR VALUE |
|
|
|
6,380,599 |
|
|
|
|
|
|
|
|
|
|
|
PREFERRED SECURITIES—CAPITAL SECURITIES 4.5% |
|
|
|
|
|
|
|
FRANCE 1.0% |
|
|
|
|
|
|
|
BANK |
|
|
|
|
|
|
|
BNP Paribas, 7.195%, due 12/31/49, 144A(d) |
|
1,950,000 |
|
1,716,000 |
|
|
|
Groupe BPCE SA, 12.50%, due 8/29/49, 144A(d) |
|
795,000 |
|
898,350 |
|
|
|
|
|
|
|
2,614,350 |
|
|
|
UNITED KINGDOM 0.6% |
|
|
|
|
|
|
|
BANK |
|
|
|
|
|
|
|
Barclays Bank PLC, 6.278%, due 12/31/49 |
|
2,000,000 |
|
1,510,000 |
|
|
|
|
|
|
|
|
|
|
|
UNITED STATES 2.9% |
|
|
|
|
|
|
|
FINANCE 1.8% |
|
|
|
|
|
|
|
CREDIT CARD 0.3% |
|
|
|
|
|
|
|
Capital One Capital III, 7.686%, due 8/15/36 |
|
1,000,000 |
|
860,000 |
|
|
|
|
|
|
|
|
|
|
|
INSURANCE—PROPERTY CASUALTY 1.5% |
|
|
|
|
|
|
|
Liberty Mutual Group, 7.80%, due 3/15/37, 144A(d) |
|
3,000,000 |
|
2,325,000 |
|
|
|
Liberty Mutual Group, 10.75%, due 6/15/58, 144A(d) |
|
1,500,000 |
|
1,447,500 |
|
|
|
|
|
|
|
3,772,500 |
|
|
|
TOTAL FINANCE |
|
|
|
4,632,500 |
|
|
|
|
|
|
|
|
|
|
|
OIL & GAS STORAGE & TRANSPORTATION 1.1% |
|
|
|
|
|
|
|
Enbridge Energy Partners LP, 8.05%, due 10/1/37 |
|
1,000,000 |
|
891,254 |
|
|
14
|
|
|
Number |
|
Value |
|
|
|
Enterprise Products Operating LP, 8.375%, due 8/1/66 |
|
2,000,000 |
|
$ |
1,872,358 |
|
|
|
|
|
|
2,763,612 |
|
|
|
TOTAL UNITED STATES |
|
|
|
7,396,112 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL PREFERRED
SECURITIES—CAPITAL SECURITIES |
|
|
|
11,520,462 |
|
|
|
|
|
Number |
|
|
|
|
RIGHTS 0.0% |
|
|
|
|
|
|
FRANCE |
|
|
|
|
|
|
BNP Paribas Ltd. expire 10/13/09(b) |
|
21,400 |
|
46,347 |
|
|
|
|
Number |
|
|
|
|
SHORT-TERM INVESTMENTS 1.3% |
|
|
|
|
|
|
MONEY MARKET FUNDS |
|
|
|
|
|
|
Dreyfus Treasury Cash Management Fund, 0.00%(e) |
|
1,500,024 |
|
1,500,024 |
|
|
Federated U.S. Treasury Cash Reserves Fund, 0.001%(e) |
|
1,800,380 |
|
1,800,380 |
|
|
TOTAL SHORT-TERM INVESTMENTS
|
|
|
|
3,300,404 |
|
15
|
|
|
|
|
Value |
|
||
|
TOTAL INVESTMENTS (Identified cost—$370,815,530) |
131.6 |
% |
|
|
$ |
338,727,451 |
|
|
|
|
|
|
|
|
|
|
|
WRITTEN CALL OPTIONS |
(0.5 |
)% |
|
|
(1,379,489 |
) |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS |
(31.1 |
)% |
|
|
(79,950,409 |
) |
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS (Equivalent to $11.21 per share based on 22,965,950 shares of common stock outstanding) |
100.0 |
% |
|
|
$ |
257,397,553 |
|
|
|
|
Number |
|
|
|
|
|
WRITTEN CALL OPTIONS (0.5)% |
|
|
|
|
|
|
|
EUROPE (0.1)% |
|
|
|
|
|
|
|
DJ EuroStoxx 50 Index, EUR Strike Price 2,950 10/16/09 |
|
680 |
|
$ |
(223,892 |
) |
|
Dow Jones Stoxx 50 Index, EUR Strike Price 2,521 10/16/09 |
|
2,659 |
|
(59,782 |
) |
|
|
TOTAL EUROPE |
|
|
|
(283,674 |
) |
|
|
|
|
|
|
|
|
|
|
UNITED STATES (0.4)% |
|
|
|
|
|
|
|
S&P 500 Index, USD Strike Price 1,080 10/17/09 |
|
563 |
|
(500,507 |
) |
|
|
S&P 500 Index, USD Strike Price 1,085 10/17/09 |
|
798 |
|
(595,308 |
) |
|
|
TOTAL UNITED STATES |
|
|
|
(1,095,815 |
) |
|
|
|
|
|
|
|
|
|
|
TOTAL WRITTEN CALL OPTIONS
|
|
|
|
$ |
(1,379,489 |
) |
Glossary of Portfolio Abbreviations
|
ADR |
|
American Depositary Receipt |
|
EUR |
|
Euro Currency |
|
USD |
|
United States Dollar |
16
Note: Percentages indicated are based on the net assets of the Fund.
(a) All or a portion of the security is held in connection with the revolving credit agreement: $155,613,148 has been pledged as collateral.
(b) Non-income producing security.
(c) A portion or all of the security is held in connection with written option contracts: $55,359,235 has been pledged to brokers.
(d) Resale is restricted to qualified institutional investors. Aggregate holdings equal 2.5% of net assets of the Fund.
(e) Rate quoted represents the seven day yield of the fund.
17
NOTES TO FINANCIAL STATEMENTS
Note 1. Portfolio Valuation: Investments in securities that are listed on the New York Stock Exchange are valued, except as indicated below, at the last sale price reflected at the close of the New York Stock Exchange on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and asked prices for the day or, if no asked price is available, at the bid price. Exchange traded options are valued at their last sale price as of the close of options trading on applicable exchanges. In the absence of a last sale, options are valued at the average of the quoted bid and asked prices as of the close of business. Over-the-counter options quotations are provided by the respective counterparty.
Securities not listed on the New York Stock Exchange but listed on other domestic or foreign securities exchanges or admitted to trading on the National Association of Securities Dealers Automated Quotations, Inc. (Nasdaq) national market system are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price on the business day as of which such value is being determined as reflected on the tape at the close of the exchange representing the principal market for such securities. If after a close of the foreign market, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain foreign securities may be fair valued pursuant to procedures established by the Board of Directors.
Readily marketable securities traded in the over-the-counter market, including listed securities whose primary market is believed by Cohen & Steers Capital Management, Inc. (the investment manager) to be over-the-counter, are valued at the official closing prices as reported by sources as the Board of Directors deem appropriate to reflect their fair market value. If there has been no sale on such day, the securities are valued at the mean of the closing bid and asked prices for the day, or if no asked price is available, at the bid price. However, certain fixed-income securities may be valued on the basis of prices provided by a pricing service when such prices are believed by the Board of Directors to reflect the fair market value of such securities.
Securities for which market prices are unavailable, or securities for which the investment manager determines that bid and/or asked price does not reflect market value, will be valued at fair value pursuant to procedures approved by the Fund’s Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include, but are not limited to, recent transactions in comparable securities, information relating to the specific security and developments in the markets.
The Fund’s use of fair value pricing may cause the net asset value of Fund shares to differ from the net asset value that would be calculated using market quotations. Fair value pricing
NOTES TO FINANCIAL STATEMENTS (continued)
involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.
Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates value.
Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. The hierarchy of inputs that are used in determining the fair value of the Fund’s investments is summarized below.
· Level 1 – quoted prices in active markets for identical investments
· Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
· Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of September 30, 2009 in valuing the Fund’s investments carried at value:
NOTES TO FINANCIAL STATEMENTS (continued)
|
|
|
Fair Value Measurements at September 30, 2009 Using |
|
||||||||||
|
|
|
Total |
|
Quoted Prices |
|
Significant |
|
Significant |
|
||||
|
Common Stock |
|
$ |
301,142,376 |
|
$ |
301,142,376 |
|
$ |
— |
|
$ |
— |
|
|
Closed- End Funds |
|
16,337,263 |
|
16,337,263 |
|
— |
|
— |
|
||||
|
Preferred Securities - $25 Par Value – Bermuda |
|
1,424,923 |
|
708,985 |
|
715,938 |
|
— |
|
||||
|
Preferred Securities - $25 Par Value – Other Countries |
|
4,955,676 |
|
4,955,676 |
|
— |
|
— |
|
||||
|
Preferred Securities - Capital Securities – United Kingdom |
|
1,510,000 |
|
— |
|
— |
|
1,510,000 |
|
||||
|
Preferred Securities - Capital Securities – France |
|
2,614,350 |
|
— |
|
1,716,000 |
|
898,350 |
|
||||
|
Preferred Securities - Capital Securities – Other Countries |
|
7,396,112 |
|
— |
|
7,396,112 |
|
— |
|
||||
|
Rights |
|
46,347 |
|
46,347 |
|
— |
|
— |
|
||||
|
Money Market Funds |
|
3,300,404 |
|
— |
|
3,300,404 |
|
— |
|
||||
|
Total Investments |
|
$ |
338,727,451 |
|
$ |
323,190,647 |
|
$ |
13,128,454 |
|
$ |
2,408,350 |
|
|
Other Financial Instruments* |
|
$ |
(1,379,489 |
) |
$ |
(1,319,707 |
) |
$ |
(59,782 |
) |
— |
|
|
* Other financial instruments are written call options.
Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:
|
|
|
Investments |
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2008 |
|
$ |
— |
|
|
|
|
|
|
|
|
Accrued discounts |
|
384 |
|
|
|
|
|
|
|
|
|
Realized gain |
|
92,579 |
|
|
|
|
|
|
|
|
|
Change in unrealized appreciation |
|
407,966 |
|
|
|
|
|
|
|
|
|
Net purchases |
|
1,907,421 |
|
|
|
|
|
|
|
|
|
Balance as of September 30, 2009 |
|
$ |
2,408,350 |
|
NOTES TO FINANCIAL STATEMENTS (continued)
Note 2. Derivative Instruments
The following is a summary of the market valuations of the Fund’s derivative instruments as of September 30, 2009:
|
Written Call Options |
|
$ |
(1,379,489 |
) |
Options: The Fund may write covered call options on an index or a security with the intention of earning option premiums. Option premiums generate current income and may help increase distributable income. When a Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded in the Statement of Assets and Liabilities as a liability. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain or loss on the option to the extent of the premiums received. Premiums received from writing options which are exercised or are closed, are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying index or security. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contract.
Note 3. Income Tax Information
As of September 30, 2009, the federal tax cost and net unrealized depreciation on securities were as follows:
|
Gross unrealized appreciation |
|
$ |
17,573,974 |
|
|
Gross unrealized depreciation |
|
(49,662,053 |
) |
|
|
Net unrealized depreciation |
|
$ |
(32,088,079 |
) |
|
|
|
|
|
|
|
Cost for federal income tax purposes |
|
$ |
370,815,530 |
|
Item 2. Controls and Procedures
(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act as of a date within 90 days of the filing of this report.
(b) During the last fiscal quarter, there were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3. Exhibits.
(a) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
|
By: |
/s/ Adam M. Derechin |
|
|
|
Name: Adam M. Derechin |
|
|
|
Title: President |
|
|
|
|
|
|
|
Date: November 23, 2009 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
By: |
/s/ Adam M. Derechin |
|
By: |
/s/ James Giallanza |
|
|
Name: Adam M. Derechin |
|
|
Name: James Giallanza |
|
|
Title: President and principal executive officer |
|
|
Title: Treasurer and principal financial officer |
|
|
|
|
|
|
|
|
Date: November 23, 2009 |
|
|
|